India’s Enterprise ICT Market Forecast to Grow 15.5% Annually Through 2030
India’s enterprise ICT market is expected to grow at a compound annual growth rate (CAGR) of 15.5% through 2030, driven by increasing AI adoption, cloud migration, data centre investment and continued development of digital infrastructure, according to GlobalData.
The forecast points to a continued shift in enterprise technology spending towards cloud-based platforms, AI infrastructure and digital services, with sectors including banking, financial services and insurance (BFSI) expected to account for a significant share of demand.
GlobalData’s latest India Enterprise ICT Country Intelligence Report identifies positive enterprise IT investment sentiment, accelerating digital transformation programmes, data centre expansion and continued government spending on digital public infrastructure as key factors supporting the market’s growth.
Enterprise technology budgets also appear to be increasing. According to GlobalData’s 2026 ICT customer insight survey, 92.3% of enterprise ICT decision-makers surveyed said their organisations had increased their ICT budgets in 2026 compared with the previous year.
Bhushan Firke, Technology Analyst at GlobalData, said: “India’s ICT growth is being supported by a combination of targeted public investment and accelerating private-sector demand. Government funding, including $1.2 billion approved through 2029 to strengthen the AI ecosystem and expand affordable access to high-end compute, is improving AI and cloud readiness. At the same time, India’s expanding global capability center landscape is driving consumption of cloud, cybersecurity, data center capacity, networking, and enterprise software as more than 1,700 such centers deliver mission-critical technology, engineering and R&D services.
Cloud computing is expected to remain the largest IT solutions segment over the forecast period. GlobalData estimates that cloud will account for 17.9% of cumulative ICT revenue between 2025 and 2030, while the segment is forecast to grow at a CAGR of 21.1%.
The growth reflects the continued movement away from traditional on-premises infrastructure towards public and hybrid cloud environments. Enterprises are increasingly using cloud platforms to support scalability, security, compliance and AI workloads.
Firke said, “India’s cloud shift is accelerating as enterprises move from traditional on-premise IT to scalable public-cloud platforms that are secure by design, governed for compliance and AI accountability, optimized for cost and performance, and ready for AI-led scale and automation—reshaping the country’s ICT landscape. Public-sector adoption is also rising alongside private sector use, driven by national governance and compliance frameworks that normalize cloud as secure, scalable, and strategically essential infrastructure. India’s ‘Cloud-First’ policies and guidelines set for cloud services providers are also driving this expansion, while cloud platforms like MeghRaj 2.0 deliver hybrid and government community cloud services.”
AI is expected to record the fastest growth among IT solution segments, with GlobalData forecasting a 54% CAGR as enterprises move more AI projects from experimentation and pilot programmes into production environments. The expansion of AI is also expected to support demand for cloud infrastructure, as production AI workloads require additional computing, storage and networking capacity.
The BFSI sector is forecast to remain the largest vertical segment, accounting for 14.5% of cumulative ICT revenue between 2025 and 2030 and growing at a CAGR of 20.6%. Investment in the sector is being driven by the continued expansion of digital banking and payments, along with regulatory requirements around cybersecurity and data protection. Banks and other financial institutions are also investing in core system modernisation, real-time analytics, digital onboarding and risk management.
Insurance and capital markets are expected to add to technology demand as more customer-facing services, distribution channels and claims processes move online. Technology adoption is also expanding across other parts of the economy. In agriculture and forestry, technologies including sensors, drones, geographic information systems (GIS) and digital applications are being used to support precision farming and data-driven operations.
Manufacturers are similarly investing in Industry 4.0 technologies, including automation, real-time monitoring and predictive maintenance.
Small and medium-sized businesses are also becoming an increasingly important part of India’s ICT growth story. Wider access to digital infrastructure, cloud services, online commerce and digital payments is lowering some of the barriers that previously limited technology adoption among smaller businesses.
Government initiatives such as the Digital MSME Scheme are supporting the adoption of cloud-based technologies and digital services, while broader digital infrastructure is making it easier for smaller companies to integrate online payments, e-commerce and other technology platforms into their operations.
“India’s MSMEs are accelerating ICT adoption as digitization becomes central to competitiveness, supported by improving digital infrastructure, targeted subsidies, and wider access to affordable cloud and commerce platforms. Schemes such as the Digital MSME Scheme are lowering technology entry barriers, promoting cloud adoption, and enabling integration with digital payments and e-commerce,” Firke said.
The combination of government-backed digital investment, growing enterprise technology budgets and increased adoption of cloud and AI is expected to keep India’s enterprise ICT market on a strong growth trajectory through the end of the decade.
